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Author : Rishi Goyal,Isabelle Mateos y Lago,Rupa Duttagupta
Publisher : INTERNATIONAL MONETARY FUND
Page : 25 pages
File Size : 54,5 Mb
Release : 2009-11-11
Category : Electronic
ISBN : 146233136X
Author : Isabelle Mateos
Publisher : Unknown
Page : 25 pages
File Size : 55,7 Mb
Release : 2019
Category : Electronic
ISBN : OCLC:1304290078
The global crisis resurrected deep-rooted concerns about the functioning of the international monetary system (IMS). Despite its relative stability, the current “non-system” has the inherent weaknesses of a setup with a dominant country-issued reserve currency, wherein the reserve issuer runs fiscal and external deficits to meet growing world demand for reserve assets and where there is no ready mechanism forcing surplus or reserve-issuing countries to adjust. The problem has amplified in recent years in line with a sharp rise in the demand for reserves, reflecting in part emerging markets' tendency to self-insure against costly capital account crises. This paper considers options to address these tensions, thereby contributing to the ongoing debate on strengthening the international monetary system. On the demand side, it explores alternative insurance arrangements that could mitigate the precautionary demand for reserves. On the supply side, it assesses a menu of alternative reserve assets that could offer sustained stability and efficiency. Many of the proposals presented would require fundamental changes in the forms and degree of international cooperation, but may gain realism and practical relevance if more incremental efforts at strengthening the current system fail.
Author : Dominick Salvatore,James W. Dean,Thomas D. Willett,Thomas Willett
Publisher : Oxford University Press on Demand
Page : 491 pages
File Size : 51,5 Mb
Release : 2003
Category : Business & Economics
ISBN : 9780195155365
This book takes a global approach by discussing one of today's most controversial topics in business; dollarization. Since the collapse of the Soviet Union, and the formation of the Euro, many countries are debating whether or not a common currency is in their best interest.
Author : Armand Van Dormael
Publisher : Springer
Page : 330 pages
File Size : 46,6 Mb
Release : 1978-06-29
Category : Business & Economics
ISBN : 9781349036288
Author : Robert Triffin
Publisher : Unknown
Page : 104 pages
File Size : 42,5 Mb
Release : 1964
Category : Business & Economics
ISBN : UOM:49015001169599
Author : Marc Uzan
Publisher : Edward Elgar Publishing
Page : 392 pages
File Size : 43,5 Mb
Release : 2005
Category : Business & Economics
ISBN : STANFORD:36105114239317
Is the international financial architecture debate over? Not according to leading experts gathered together in this impressive volume who try to identify the key trends that will fashion the international financial system in the years ahead. As history has shown, the evolution of the international monetary system is a slow process. However, the authors argue that we may be entering a new era in which a combination of factors will have lasting consequences on the functioning of the international monetary system and the future role of the IMF. This book combines the thoughts and opinions of distinguished contributors from academia, the private sector and central banks. In light of the financial crises of the 1990s, it provides a first attempt to reflect on debates surrounding the current state of the international financial system and predict some possible future scenarios. international monetary and financial system. prospective sources of finance for the developing world and the future of the sovereign debt market. the evolving debate on capital account liberalization. exchange rate regimes and future monetary arrangements. the aftermath of the sovereign debt restructuring mechanism debate. governance of the international financial system. This important overview of the controversies surrounding the future design and development of the international financial system will be welcomed by academics and professional economists interested in banking, monetary economics and international finance. It will also be of great value to finance ministries, supervisory authorities, central banks and financial institutions.
Author : International Monetary Fund
Publisher : Unknown
Page : 128 pages
File Size : 53,8 Mb
Release : 1984
Category : Electronic
ISBN : OCLC:61775528
Author : Claremont Graduate School and University Center
Publisher : SAGE Publications, Incorporated
Page : 210 pages
File Size : 42,7 Mb
Release : 1981-11
Category : Business & Economics
ISBN : UOM:39015000667769
Proceedings of the conference held Oct. 1978 in Claremont, Calif. under the auspices of the Claremont Graduate School.Includes indexes.
Author : Barry Eichengreen
Publisher : Brookings Institution Press
Page : 212 pages
File Size : 48,7 Mb
Release : 2000-08-21
Category : Business & Economics
ISBN : 0815791429
Recent events have reignited the debate over the future of the international monetary system. This book, part of the Integrating National Economic series, examines international monetary options of the twenty-first century. Barry Eichengreen argues that it will not be possible for governments to prevent exchange rates from exceeding prespecified limits. Changes in technology, market structure, and politics will force countries that have traditionally pegged their exchange rates to choose between floating rates and monetary unification. Eichengreen describes the various international monetary arrangements with which policymakers have experimented in the past. He introduces the requirements that an international monetary system must satisfy and illustrates how these requirements have been met over time. He analyzes which preconditions for the smooth operation of international monetary systems in the past will be impossible to achieve in the next century and creates a list of feasible options for future policymakers. These feasible options, he concludes, will be limited to some form of floating exchange rates and monetary unions. In which direction countries should move is not obvious. The choice between floating and monetary unification depends on a host of economic and political factors. The book provides an in-depth analysis of Western Europe's experience and the dramatic international monetary initiatives currently under way, and compares options for Asia, Africa, the former Soviet Union, and the Western Hemisphere. A volume of Brookings' Integrating National Economies Series
Author : Marc Flandreau,Carl-Ludwig Holtfrerich,Harold James
Publisher : Cambridge University Press
Page : 290 pages
File Size : 54,5 Mb
Release : 2003
Category : Business & Economics
ISBN : 9780521819954
The essays, written by leading experts, examine the history of the international financial system in terms of the debate about globalization and its limits. In the nineteenth century, international markets existed without international institutions. A response to the problems of capital flows came in the form of attempts to regulate national capital markets (for instance through the establishment of central banks). In the inter-war years, there were (largely unsuccessful) attempts at designing a genuine international trade and monetary system; and at the same time (coincidentally) the system collapsed. In the post-1945 era, the intended design effort was infinitely more successful. The development of large international capital markets since the 1960s, however, increasingly frustrated attempts at international control. The emphasis has shifted in consequence to debates about increasing the transparency and effectiveness of markets; but these are exactly the issues that already dominated the nineteenth-century discussions.
Author : Michael A. Heilperin
Publisher : Ludwig von Mises Institute
Page : 297 pages
File Size : 41,9 Mb
Release : 2007
Category : Electronic
ISBN : 9781610160285
Michael Heilperin was a friend and colleague of Ludwig von Mises's in Geneva, and his specialization was the international monetary system. He applied the Austrian theory of the business cycle along with his knowledge of the balance of payments to warn against the rise of monetary nationalism. He wrote against the monetarist idea of floating fiat currencies and in favor of an international gold standard, and said that the debate was really between monetary chaos and international monetary stability. This 1939 work remains a definitive study of the author's times and our own.
Author : International Monetary Fund. Strategy, Policy, & Review Department,International Monetary Fund. Finance Dept.,International Monetary Fund. Legal Dept.,International Monetary Fund. Monetary and Capital Markets Department,International Monetary Fund. Research Dept.
Publisher : International Monetary Fund
Page : 33 pages
File Size : 50,7 Mb
Release : 2011-03-23
Category : Business & Economics
ISBN : 9781498339117
The current IMS has survived for over forty years, underpinning strong growth in GDP and in the international exchange of goods and capital, one of its core objectives. As a result, interdependence among the world’s economies has grown dramatically, making the existence of a sound system ever more important. At the same time, the system has exhibited many symptoms of instability—frequent crises, persistent current account imbalances and exchange rate misalignments, volatile capital flows and currencies, and unprecedentedly large reserve accumulation. These symptoms have come to a head since the 2008 crisis and brought renewed international momentum to the idea of attempting to reform the IMS. Yet the debate so far suggests little consensus on the underlying problems, let alone on the solutions. This paper identifies four root causes to these problems: inadequate global adjustment mechanisms to prevent inconsistent or imprudent policies among systemic countries; lack a comprehensive oversight framework for growing cross-border capital flows, covering both source and recipient countries; inadequate systemic liquidity provision mechanisms; and structural challenges in the supply of safe assets.
Author : Paul J. Zak
Publisher : Edward Elgar Publishing
Page : 168 pages
File Size : 41,8 Mb
Release : 1999-01-01
Category : Business & Economics
ISBN : 1782543651
Currency Crises, Monetary Union and the Conduct of Monetary Policy is a book of debate and analysis by some of the world's most eminent economists on 'unsolved' problems relating to the international monetary system, economic growth and monetary policy. This volume will be of interest to specialists in international monetary economics, and to undergraduate and graduate students, and members of the general public who seek a clearer understanding of current economic issues and solutions to economic problems.
Author : Alberto Giovannini
Publisher : MIT Press
Page : 408 pages
File Size : 40,8 Mb
Release : 1995
Category : Business & Economics
ISBN : 0262071681
Written from 1985 to 1992, the author's essays address such topics as the transition to a European monetary system, the design and functioning of a European Central Bank, curency reform, capital inflow, and exchange rates.
Author : Guillaume Guindey
Publisher : Routledge
Page : 124 pages
File Size : 52,8 Mb
Release : 2017-07-05
Category : Business & Economics
ISBN : 9781351543422
Originally published in 1977, The International Monetary Tangle presents a translation of Guindey?s report on international monetary issues. Guindey examines the Bretton Woods System which lasted until 1971 as well as the new monetary regime that took its place and discusses the key debates that came along with it. Guindey takes a historical angle in this study and focuses on what lessons can be learnt from the past in terms of international money management. This title will be of interest to students of Economics.
